Question

I just completed the Journal Entries and according to the comment the next step is the trial balance. Can you please help me with this. journal Entries are attached. If there are any mistakes in the General Journal please let me know.

Victoria Co. Balance Sheet As of December 31, 2019 Cash Notes Receivable Accounts Receivable Less: Allowance for Doubtful A/Cs Inventories Office Supplies Prepaid Insurance Prepaid Rent Total Current Assets Long-term Investments Investments in securities Land for future development Property, Plant, and Equipment Land Buildings Less: Accu. Depreciation Intangible Assets Capitalized Development Costs Goodwill Other Intangible Assets Total Non-Current Assets Total Assets 85,000 Notes Payable 34,590 Accounts Payable 35,000 Unearned Revenue (2,930) Property Tax Payable 65,000 Interest Payable O Income Tax Payable 540 Salary and Wages Payable 4,800 Utilities Payable 222,000 Total Current Liabilities Provisions Related to Pensions 180,000 Bonds Payable 60,000 Total Non-Current Liab. Total Liabilities 145,000 Common Stock 800,000 Paid-in-capital - Common Stock (240,000) Preferred Stock Paid-in-capital - Preferred Stock 15,000 Retained Earnings 120,000 Accu. Other Comp. Income 48.000 Less: Treasury Stock 1,128,000 Total Shareholders' Equity 1,350,000 Total Liab. and Total Equity 150.000 125.000 1.000 0 3,500 13,000 6,500 12.000 311,000 93,100 300,000 393,100 704,100 240,000 96,000 97,000 7,400 210,500 5,000 (10,000) 645,900 1,350,000

Answer 1

All accounting entries are correct

trail balance is as follows:-

Trail Balance
Particulars	Debit	Credit
Cash/Bank	$     441,730.00
Notes recievable	$                      -
Accounts recievable	$       78,866.00
Interest Received		$             410.00
Doubtfull debts		$          2,930.00
Bad debts	$       11,134.00
Inventories	$       65,000.00
Prepaid utilities	$       18,000.00
Utilities Expense	$       12,000.00
office supplies	$                      -
Supplies expense	$          8,000.00
Prepaid insurance	$                      -	$          4,260.00
Rent	$       29,800.00
Prepaid rent	$          5,000.00
Investment in securities	$     180,000.00
Land for future development	$       60,000.00
land	$     175,000.00
building	$     800,000.00
accumulated depreciation		$     320,000.00
Capitalized Development	$       15,000.00
Goodwill	$     120,000.00
other Intangible assets	$       48,000.00
Notes Payable		$     250,000.00
Accounts Payable		$     160,000.00
Unearned revenue		$       12,000.00
Property Tax payable		$                      -
Interest payable		$          6,250.00
Interest expense	$       10,250.00
Income tax payable		$                      -
Income Tax	$       12,500.00
Property Tax	$          6,600.00
Salary expense	$     120,000.00
Salary and wages payable		$       15,000.00
Utilities Payable		$                      -
Provisions related to Pension		$       93,100.00
Bonds Payable		$     300,000.00
Common stock		$     240,000.00
Common stock(Paid up)		$     126,000.00
Prefered stock		$       97,000.00
Preference stock (Paid Up)		$          7,400.00
Retained earnings		$     180,500.00
Dividend payable		$                      -
Other comprehensive income		$          5,000.00
Treasury stock	$       10,000.00
Revenue account	$       11,000.00
Insurance	$          4,800.00
Purchase	$     430,000.00
Purchase return		$          3,000.00
Sales		$     936,000.00
Sales return	$          6,000.00
Sales discount	$          7,280.00
Purchase discount		$          7,110.00
Depreciation expense	$       80,000.00
	$ 2,765,960.00	$ 2,765,960.00